Moltiply Group (MOL) Q2 2026 earnings summary

Executive summary

• H1 2026 revenues rose 13.7% year-on-year to €343.1 million, with net income up 69% to €37.1 million and EBITDA up 20.8% to €93.4 million, driven primarily by the Mavriq Division's 31.7% revenue growth.

• Q2 2026 revenues declined 5% year-on-year, but net income increased 42% due to margin improvements and lower losses from financial assets.

• The group operates two main divisions: Mavriq (broking/aggregation) and BPO & Tech (outsourced financial services), each with distinct business lines and geographies.

• Strategic transactions included the acquisition of remaining stakes in Switcho S.r.l. and EuroSTA S.r.l., and the disposal of Centro Finanziamenti S.p.A.

Financial highlights

• EBITDA margin improved to 27.2% from 25.6% year-on-year; operating income rose 14.7% to €55.9 million.

• Mavriq Division revenues grew 31.7% to €217.4 million; BPO & Tech revenues declined 8% to €125.7 million, but EBITDA rose 11.1% to €32.5 million and margin improved to 25.9%.

• Net financial position was negative €453.4 million as of June 30, 2026, mainly due to share buybacks and acquisitions.

• Cash flow from operating activities was €51.9 million, up 41.7% year-on-year.

• Earnings per share (basic): €0.97; dividend per share: €0.12.

Outlook and guidance

• Q3 2026 expected to show improvement over Q2, especially in energy and banking, though not a full recovery; Mavriq Energy & Telco and Banking lines expected to improve, Insurance and Shopping stable.

• BPO & Tech Division anticipates continued EBITDA growth and margin expansion in H2, driven by efficiency and service mix.

• Regulatory changes and new IT platforms are expected to support future growth, especially in insurance and lease services.